Faridabad properties possess great potential which has been tapped mainly because of the real estate developments in surrounding areas of NCR. Builders have made a beeline to make a killing as the city is now a major focus area for HUDA.

Two years ago, builders used to keep themselves at bay from Faridabad real estate and the area was indeed not marketed by anyone. But if seen today, Faridabad has completely undergone a makeover. A major part of the city’s prominence owes more to its proximity to the Capital.

The overall development of Faridabad realty comes on the back of the regional potential combined with the distribution of real estate activity. HUDA is to also share the credit for being supportive of the private mode of development.

Townships in Faridabad

Staying in step with new concepts and upgradations in Indian real estate, Faridabad is seeing new developments especially in residential segment. The first Township is to develop on the lines of Charmwood Village, a residential project built under the banner of Eros. Other projects are Lakewood City and Greenfield Colony. They all are located in the vicinity of South Delhi.

Green Spaces in Faridabad

Of all the sectors in Faridabad, Sector 43 is coming up as a center for fast and sustainable growth. It is situated in green belt in proximity to reserved forest area and the famous Surajkund complex.

Naharpaar, Investors Fancy

Sector-86 in Faridabad is commonly known as Naharpaar Area and is set to undergo a paradigm shift in near future. The area has everything which can make any place a favorable destination as far as investments is concerned. Enjoying a strategic location, the area is well linked to Delhi on one hand and the twin cities of Noida and Greater Noida on the other.

The strategic location of Faridabad also furnishes it with enormous advantages. Being in vicinity to the Capital City, it attracts attention of people looking towards shifting in fast flourishing and attractive place.

“I narrow down on Faridabad as it is just 30 minutes from my office at Nehru Place,” says a marketing executive Kamal Krishna., who is all set to move in his new Faridabad flat in Green Field Valley.

Faridabad, closer to the Capital, offered the same in about half the price. The place is no more a smoky industrial town which is famous for hosting the annual Surajkund crafts fair. It is fast transforming into a green suburb which offers economical solutions to home seekers looking to stay around Delhi.

Driven by intense demand in both commercial and residential property sector, real estate in Faridabad is ostensibly flourishing. In addition, the city is on its way to make it big and would soon give a stiffer competition to cyber cities such as Noida and Gurgaon.

With property developers eyeing the trans-capital land acquired from villages along the Yamuna and soon to come up Taj Expressway Corridor, Faridabad is likely to sell out 20,000 houses in the next two years.

Property in Faridabad has been witnessing significant appreciation for the past few years. People can purchase a flat and a 1,000-square-foot bungalow plot for Rs 3,000-Rs 4,000 per square foot.  The prices for the same piece of property in cities like Noida and Gurgaon are at least double, if not more, says a Faridabad based real estate agent.

With the proper initiation of government, Faridabad can be the next best city of Haryana particularly in context with residential properties with glitzy shopping malls, improved connectivity, and conducive environ strengthening  its prospects further.

The government of Haryana had separated the sectors 70 to 90 as a residential zone in 2005. On completion, the area will be included in South Delhi and will enjoy the benefits of being located in the proximity to all major residential complexes of NCR.

The area will also enjoy an array of additional advantages including schools, hospitals, shopping malls, and leisure projects.

It is very difficult for mariners to afford comfortable home for themselves especially after retirement, says Mr. H.S Anand, President MWS and an ex-mariner with a profound experience in Merchant Navy. He is also planning to start a company to minimize the obstacles of the mariners in affording their house.

Faridabad has been catering to the residential requirements of over 11 lakh people, and more than Rs. 3,000 crore are to be invested on its major facelifts by the year 2010. As such, Faridabad residential property has been grabbing the attention of more and more people. Situated in proximity to the Capital city, Faridabad enjoys several advantages. With soon to come up Badarpur –Noida express highway, the city would improve its connectivity to Noida as well.

Faridabad real estate is seeing appreciation in wake of emerging retail spaces and other construction activities. A number of malls and multiplexes are coming up in the area. Apart from the existing malls like Crown Plaza and PVR SRS malls, there are ten other malls to come up soon. Of this, there would be functional in a short span of time.

Rupa Construction’s Pristine Mall, Parsvnath Group’s mall Manhattan and city mall, Eros Group’s EF-3 and East Square Mall will be functional in a few months time. As for other malls like Crown Interiors (owned by Crown International), Vardhman Group and Sewa Builders will come up by the next year’s end.

One of the most prominent names in Indian real estate, SEWA Group, is setting up a mall and a three star hotel having 40 rooms on an area of 3 lakh sq. ft. Following in footsteps is Vardhman Group, that too is coming up with an exclusive mall in an area of 1 lakh sq. ft, while the mall Destination Point owned by Senior Builders is getting renovated.

Submitted by Seuli Bhattacharya

Real estate in Faridabad has thrived in spite of this indifference. In fact, Faridabad is being touted as NCR’s hottest property as new areas of land and improved connectivity with other cities is being strengthened.

Enjoying the most advantageous location with Delhi, Faridabad is also very well connected to Gurgaon and Noida. A strong infrastructure package for the city includes the Taj Expressway, the proposed highway from Kalindi Kunj connecting all the new sectors in Faridabad to join Mathura Road, the Faridabad - Noida - Ghaziabad - Kundli Expressway, the KMP Expressway, and the Badarpur over bridge. And with the Metro link with Delhi in the pipeline, Faridabad is a sure bet., currently witnessing price escalation of land by as high as 100 per cent. In the last year, land prices in this satellite town have increased by more than 60 to 70%. In prime sectors like 15 and 16 land prices fetch Rs 20,000 to 22,000 per sq yard today.. In sectors 81 to 90, the prices have increased to Rs 9,000-Rs 10,000 per sq. yard.

Faridabad has a sizeable affluent and trendy population, notwithstanding the absence of the MNCs, which have been catalysts in the transformation of Gurgaon and Noida. The city is at par with other NCR cities with regard to quality of construction – BPTP Parklands, Omaxe and Era Infrastructure have ultra-modern residential projects coming up. Whilst Sectors 1-65 have been developed by HUDA, the new sectors from 66 to 91 are dominated by private builders.

Faridabad has traditionally been an industrial city, with 300 large and 10,000 small scale units and the Haryana Government’s new Industrial Model Township will integrate industrial, commercial and residential facilities.

Large commercial projects in the city include Eldeco’s and the city’s first theme mall “Station 1” in Sector12, based on a steam engine! Ansal and Crown Plaza are lavishly designed malls catering to chidren’s entertainment and hospitality. All signature brands and lifestyle products are on display. Mall Manhattan, a Parsvanth –Landmark Builders’ joint venture in Sector 20A is popular amongst shoppers.

So if you’re wondering where to put your money, Faridabad’s price advantage over other NCR cities, backed with growing infrastructure spell good returns in the near future.

Submitted by Seuli Bhattacharya

The Union Government, State Government, and Faridabad Municipal Corporation have entered into a tripartite agreement on 22 December at a meeting in New Delhi. This makes the city eligible to receive the financial aid from the Urban Development Ministry and the state government for bringing a mark improvement in its infrastructure over the next few years.

Crisil India Limited was entrusted with the responsibility for designing the development plan. And, the detailed project report is prepared by National Building Construction Corporation (NBCC), a government of India undertaking.

Faridabad City Development Plan will aim at optimizing breakthrough alterations in infrastructure and civic amenities, sewer system, street light, sanitation, storm water drains, roads, solid waste management, and water augmentation for a projected populace of 26 lakh by 2035.

Faridabad is lucky enough to be the only town in Haryana included in the Urban Renewal Mission for the spatial development. As for now, development schemes catering to the demanding infrastructure needs for 91 Urban sectors and 41 Revenue Villages will be taken into prime concern as the work at priority.

Also, the government is focusing on upgrading living standards of slum dwellers, says N.K. Kataria, superintending engineer, Faridabad Corporation. This industrial town holds the dubious distinction of being one of the five cities which has the maximum population of weaker sections, staying in around 60 illegal colonies and slum clusters.

However, the real estate biggies like Omaxe has contributed a lot in improving the image of Faridabad by incorporating a multitude of high class projects both residential and commercial.

Faridabad, enjoying the status of being industrial heart of Haryana, has grown enormously in the past few years, chiefly because of a large number of industries have come up in the town.

While real estate soothsayers believe that Faridabad has witnessed an unparallel growth, particularly because of surrounding property boom in NCR, the fact remains that the city is loaded with large prospects for multifaceted growth. This makes it the next hunting ground for property developers after Gurgaon.

Not only one of the most flourishing cities in Haryana, Faridabad is also posing stiff competition to the other NCR towns of the capital city. Anyone planning to give concrete shape to a dream of yielding high returns by investing in Haryana property, then nothing could be a better prospect than property in Faridabad as compared to its counterparts – Ghaziabad, Noida, Greater Noida, Gurgaon, and Sonepat.

What is most crucial in Faridabad’s location is its proximity to the capital. It takes only a few minute’s drive to step into the city and reach to the places of importance. This in turn brings positive results for the property in Faridabad.

In addition to commercial projects, a multitude of residential projects in Faridabad are also in their phase of development.

Consult the following chart to scout for ongoing and updated property prices in Faridabad:

Faridabad Property Rates

** Price as per the market value in Dec 06
** Property Rates are subject to change due to market vagaries and may differ by virtue of location and project, depending and facilities and other factors.